From Matthew Graham at Mortgage News Daily: Mortgage Rates Flat as Markets Get Back to Business Mortgage rates were almost perfectly unchanged today as markets returned to full force following the extended Thanksgiving break . Bond markets (which dictate mortgage rate momentum) had been consolidating in a narrower and narrower range...Read more »

From the Richmond Fed: Manufacturing Activity Expanded; Capacity Utilization Rose Sharply Fifth District manufacturing activity expanded in February, as shipments increased and the volume of new orders rose broadly, according to the latest survey by the Federal Reserve Bank of Richmond. Employment gains were more common and longer workweeks prevailed. Wage increases were more...Read more »

From the Richmond Fed: Manufacturing Sector Activity Generally Softened; Average Wages Grew Moderately Fifth District manufacturing activity slowed in September, according to the most recent survey by the Federal Reserve Bank of Richmond. Order backlogs and new orders decreased, while shipments declined. Average wages continued to increase at a moderate pace this month, however...Read more »

Tuesday:• At 9:00 AM ET, the S&P/Case-Shiller House Price Index for May. Although this is the May report, it is really a 3 month average of March, April and May prices. The consensus is for a 5.6% year-over-year increase in the Comp 20 index for April. The Zillow forecast is for the National Index...Read more »

Tuesday:• At 8:30 AM ET, Durable Goods Orders for April from the Census Bureau. The consensus is for a 0.8% decrease in durable goods orders. • At 9:00 AM, the FHFA House Price Index for March. This was original a GSE only repeat sales, however there is also an expanded index. The consensus is...Read more »

A very disappointing report from CNBC tonight: Obama source predicts Summers will be named Fed chief soon A source from Team Obama told CNBC that Larry Summers will likely be named chairman of the Federal Reserve in a few weeks though he is “still being vetted” so it might take a little longer. I...Read more »

There will be plenty of economic data released later this week! There is some sort of political debate tonight at 9 PM ET. The good news is the election will be over on November 6th. The bad news, as Atrios mentioned earlier, is the 2016 election cycle starts on Nov 7th. Here is something...Read more »